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BP. Bp Plc

516.80
1.20 (0.23%)
17 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bp Plc LSE:BP. London Ordinary Share GB0007980591 $0.25
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.20 0.23% 516.80 517.00 517.10 520.00 512.00 513.30 41,361,726 16:35:01
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Petroleum Refining 211.6B 15.24B 0.8934 5.79 88.21B

EUROPE MARKETS: European Stocks Slip; Eurozone Data Highlight Slow Growth

14/11/2014 5:29pm

Dow Jones News


Bp (LSE:BP.)
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By Carla Mozee, MarketWatch Stoxx Europe 600 pushes out small weekly rise

LONDON (MarketWatch)--European stocks slipped Friday as investors assessed a round of economic growth data from the eurozone, but the benchmark Stoxx Europe 600 managed to eke out a minor gain for the week.

Gross domestic product figures from the eurozone confirmed sluggish activity for the 18-member region in the third quarter, growing by 0.2% quarter-on-quarter, according to the European Union's statistics office. The figure was slightly better than expected.

Germany registered growth of 0.1% in the third quarter, allowing the largest economy in the eurozone to dodge recession, while French GDP expanded 0.3%, coming after a slight contraction in the second quarter. But Italy's GDP contracted 0.1% in the third quarter. On more upbeat notes, Spain's GDP grew 0.5% and Greece posted growth of 0.7%, marking an end to its recession.

The headline eurozone growth figure provided "welcome news that fears of a renewed recession look exaggerated. However, the data will diminish hopes that the European Central Bank will feel the need to take further action to stimulate growth," said Chris Williamson, chief economist at Markit, in a Friday note.

Markets: The euro (EURUSD) lost ground after the eurozone data but later recovered traded around $1.2492 versus $1.2475 late Thursday.

The Stoxx Europe 600 ended down 0.1% at 335.63, but the move left the index up a modest 0.1% for the week.

Crude-oil futures (CLZ4)rose intraday, aiding shares of oil companies, though oil prices still traded around four-year lows. The battering of oil prices may persist into the first half of 2015 unless global output is cut, the International Energy Agency said Friday.

Tullow Oil pared its loss to less than 0.1%, Cairn Energy PLC turned higher for a 2.6% advance and BP PLC (BP) reversed course to end up 0.4%.

Mining stocks mostly had a rough session, with recent losses stemming from pressure on dollar-denominated metals prices as the U.S. dollar rose against major rivals. Randgold Resources PLC ended up 1.6%, but Anglo American PLC fell 0.4%, BHP Billiton PLC (BHP) lost 0.3% and Rio Tinto PLC (RIO) slipped 0.2%, paring losses.

Among country indexes, Germany's DAX 30 index logged a turnaround, ending up 0.1% at 9,252.94. France's CAC 40 index rose 0.4% to 4,202.46, and the U.K.'s FTSE 100 rose 0.3% to 6,654.37.

You're invited: A free evening event focusing on investing opportunities in Europe

Will you be in London on Dec. 3? Then you're invited to our MarketWatch Investing Insights event, "The worse Europe gets, the more you should invest."

Governments are in trouble, reform efforts have stalled, unemployment is climbing. the news from the eurozone is bleak. And investors are fleeing. But that's a mistake: The worse the economic data from Europe get, the more you should be buying. Why? Because actions by the ECB will boost asset prices and the stock market in particular. And, big exporters can grow sales. Lower costs and steady sales translate into higher profits and dividends. Join us for an evening of cocktails and conversation to explore these opportunities.

Our panel will be led by MarketWatch Columnist Matthew Lynn, a renowned financial journalist based in London and the author of "Bust: Greece, the euro and the Sovereign Debt Crisis." He'll be joined by Mark Hulbert, MarketWatch columnist and editor of the Hulbert Financial Digest. This event is free, but RSVPs are required. It will be held Wednesday evening, Dec. 3, in London. For more information or to RSVP, send an email to marketwatchevent@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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